market spot report for u.s. government opportunities · 2019-03-27 · innovative industrial...

/HEXA

®

…dual -use debris-bolt-removal wrenches…

MARKET SPOT REPORT FOR

U.S. GOVERNMENT OPPORTUNITIES

January, 2019

Industrial Product Division of The Harrison Group, LLC

and

Exclusive Technology Licensee of…

INNOVATIVE INDUSTRIAL PRODUCTS, LLC, a division of The Harrison Group, LLC MARKET SPOT REPORT FOR FEDERAL GOVERNMENT OPPORTUNITIES

January, 2019

BUSINESS SENSITIVE January, 2019 Page 1 of 30

CONFIDENTIAL INFORMATION

This Market Spot Report is the property of Innovative Industrial Products, LLC, the Industrial Product Division of The Harrison Group, LLC, and is considered to be strictly confidential. It contains information intended only for the person to whom it is transmitted. With receipt of this Report, recipient acknowledges and agrees that:

the recipient will not copy, fax, scan, reproduce, divulge, or distribute this confidential Report, in whole or in part, without the expressed written consent of Innovative Industrial Products, LLC; and

All of the information herein will be treated as confidential material with no less care than that afforded to the recipient and/or the recipient’s company’s confidential material.

This document includes certain statements, estimates, and projections provided by Innovative Industrial Products, LLC. Such statements, estimates, and projections reflect various assumptions which may or may not prove to be correct. No representations are made as to the accuracy of such statements, estimates, or projections. This document does not constitute an offer to sell, or a solicitation of an offer to purchase.


January, 2019


SECTION PAGE NUMBER Executive Summary 3 Company Overview/Current Activities/Future Plans 7 The Product, “Issues”, Uses, Current Methods 8 Market 13 Intellectual Property 16 Competition 17 Go-to-Market Strategy 18 Conclusion 21 Potential Manufacturers (Attachment I) 24

TABLE OF CONTENTS


January, 2019


“Necessity is the Mother of Invention” Difficult situations truly do inspire ingenious solutions. In the case of Hank Redford, an electrical

contractor who worked in the electric contracting and service industry for over 45 years, opening

ground-level electrical service boxes meant, many times, removing ice, dirt, mud, sand—all sorts of

environmental debris—from around the recessed exteriors of the boxes. So, Hank, after a rather

perilous incident involving a hammer and chisel, started tinkering with a better approach to clearing

and safely removing the bolts.

Thus was born the PENTA BUSTER® and HEXA BUSTER® multi-purpose solutions to the nagging

problem of cleaning debris from the area surrounding fasteners employed to seal receptacles of every

kind—and in the same step, safely and seamlessly remove the fastener. Hank’s Intellectual Property

Attorneys expounded the importance of acting upon the Federal Government’s motivation to protect

inventions—and inventors. Thus, on July 3, 2007, the United States Patent and Trademark Office

(USPTO) issued Mr. Redford a patent and a registered trademark.

Licensed Technology

On March, 12, 2013, Mr. and Mrs. Redford’s Company, G&R Solutions, granted an Exclusive License

to Innovative Industrial Products, LLC (IIP) (an American, woman-owned small business and Industrial

Product Division of The Harrison Group, LLC) to manufacture, market, sell, and distribute the

technology, worldwide. Distribution commenced in 2013, and product has been sold exclusively in the

private sector’s electric utilities sector ever since.

Women-Owned, Small Business Program – Government’s goal is to award at least five percent

of all Federal Contracting Dollars to women-owned small businesses each year.

To help provide a level playing field for women business owners, the Government limits competition

for certain contracts to businesses that participate in the women’s contracting program. These

contracts are for industries where women-owned small businesses (WOSB) are underrepresented.

Some contracts are restricted further to economically disadvantage women-owned small businesses

(EDWOSB).

IIP fits the criteria for women-owned, small-business status; hence, IIP is eligible to compete for

Federal contracts set-asides for the WOSB Program, as well as possible economic support from

EDWOSB and other Federal socio-economic programs.

“While this is obviously good news for small contractors,

it also provides big opportunities for large primes

to team up with small companies on projects—

potentially opening up doors that might

otherwise not be open for them.1

1 https://www.federaltimes.com/opinions/2018/03/13/3-considerations-for-government-contracting-in-2018/

EXECUTIVE SUMMARY


January, 2019


Government Opportunities

Responding to recommendations from military personnel to look at assisting the Federal Government

in its Road Vehicles market (land on/off-road and continuous-track vehicles) IIP guided the effort to

commence looking at assisting the Federal Government in not only its Road Vehicles’ issues, but the

U.S. Army Corps of Engineers, and the Government’s Utility Systems, as well, since IIP’s market since

2013 has been exclusively geared to U.S. electric utilities.

Market data has shown all three opportunities are appropriate for this product:

U.S. Government Road Vehicles – Currently, the Federal Government has more than 600,000

road and off-road vehicles within its purview.2 These vehicles traverse an abundant array of

off-road surface areas that create a high degree of debris build-up in and around the land

combat and military transport vehicles’ wheels’ bolts, as well as the fasteners that adhere the

sprocket wheels to the military tanks’ tracks. Safety, inefficiency, and fiscal demands are

placed on the Federal Government when the fasteners get encrusted with external-element

build-up and create unneeded downtime when trying to remove the debris from around the

fasteners, as well as the fasteners—especially during military actions.

United States Army Corps of Engineers – This U.S. Federal Agency under the U.S.

Department of Defense is made up of approximately 37,000 civilian and military personnel and

is one of the world’s largest public engineering, design, and construction management

agencies. With its main missions of planning, designing, building, and operating locks and

dams, flood control, dredging for waterways, as well as other civil engineering projects, the

Corps’ equipment is laden with large quantities of debris-ridden build-up—a prime opportunity

for the PENTA BUSTER® and HEXA BUSTER® wrenches.

U.S. Government’s Utility Systems – The Federal Government is the nation’s largest energy

consumer and spends billions of dollars each year to power its permanent military posts and

commercial buildings around the world.3 With more than 350,000 energy-using buildings and

structures, coupled with its international military installations’ utility systems (electric power;

natural gas supply; transmission of telecommunications; treatment of supply water; collection

of treatment of wastewater; generation of supply of steam, hot water, and chilled water), the

Government accommodates a massive utility system. Transitioning from private industry to

the Federal Government in assisting it to clean and remove debris from around its Utility

Systems’ service box enclosures would be a seamless opportunity for the IIP group of electric

utility distributors.

2 https://www.energy.gov/eere/efficiency/government-energy-management 3 https://www.energy.gov/eere/efficiency/government-energy-management


January, 2019


Current Methods

After a patent search and market analysis, it appears the Federal Government does not currently

utilize a one-step debris-bolt-removal process—a process that is afforded by the PENTA BUSTER®

and HEXA BUSTER® wrench.

It also appears there exist two hole-cutting devices that bear “teeth”; however, from the data received,

the two companies representing these devices market their respective technologies solely for the

purpose of boring holes—not cleaning debris from around fasteners—and removing the fasteners.

(See “Competition” Section for further discussion.)

Additionally, there is a multitude of socket wrenches, nut drivers, screwdrivers, chisels, tire irons (for

vehicles’ lug nuts), and other miscellaneous hand tools in the marketplace to chip away at encrusted

elements that surround a multitude of fasteners. However, there are no wrenches or drivers that are

specifically designed (and Government protected) for safely removing excess, hard-to-dislodge

debris from around fasteners that secure a plethora of enclosures—and then safely removing the

associated fasteners.

Unique—Patented/Trademarked—Design

The one-of-a-kind, patented cleaning flange method embodied within the PENTA BUSTER® and

HEXA BUSTER® wrench design is composed of a plurality of rigid “teeth” that remove and/or loosen

the debris from around the nut, so access to the enclosure can be quickly gained, thereby alleviating

both the inefficiency, as well as potential bodily harm, inherent in the current method of opening the

hard-to-open enclosures. The cleaning flange can then be retracted, and the socket wrench exposed

to quickly and safely remove the penta or hexa fasteners.

Team

The IIP Team is small (two managers, five associates, and eight well respected distributors)—but

tenacious and effective. Accomplishments include:

Two Partners’ combined over 95-year career paths;

Successful design and launch of complete divisions in high-tech companies;

As Director of Technology Commercialization at a U.S. DOE Federal Laboratory, one of the

Managers licensed over 400 types of intellectual property, and assisted in the creation of ten

spin-out companies—and was intimately involved in the importance of SAFETY to the U.S.

Government;

Designed and developed comprehensive programs that resulted in 35% increase in revenue

over a one-year period of time; and

Engaged in the business of starting up new ventures for more than 30 years.

Of utmost importance to IIP is the observation of sound business ethics and adherence to an

aggressive work ethic.


January, 2019


Joint Opportunity

This is an opportunity for a U.S. manufacturer that has in the past worked for, or currently works for,

the Federal Government to team with a woman-owned small business to assist the Federal

Government in creating more efficient systems and supporting the safety of the Government’s

employees and military service people.

Go-to-Market Strategy

IIP plans to negotiate a sub-license with a manufacturer that fits the above criteria. License grants will

include the right to manufacture, market, sell, and distribute the product, worldwide.

PRODUCT/MARKET HIGHLIGHTS Breakthrough Technology Innovative Industrial Products, LLC, is the Exclusive Technology Licensee of the

“disruptive”, high-quality PENTA/HEXA BUSTER® technology, whose unique, patented/trademarked embodiments fill a key role in removing the debris and clogged material around the recesses of any fastener for less dangerous and more efficient opening of secured enclosures—and ultimately accessing and removing the fastener—in one step—with one tool.

Sound Market Opportunities: Federal Government U.S. Domestic and International markets:

Fastener Removal from Government Road Vehicles

Fastener Removal from Government’s Utility System’s Service Boxes

The domestic and international markets for the PENTA BUSTER® and HEXA BUSTER® products are sizable:

Over 600,000 Road Vehicles in Federal Government

Roughly 35,000 employees make up the U.S. Army Corps of Engineers

Over 350,000 energy-using buildings utilizing U.S. Government Utility System

Billions of dollars spent each year to power Federal Government’s permanent military posts around the world.

Competition None.

Woman-Owned Small Business Opportunity for team to receive Government set-asides.

Intellectual Property Patent – Patent #7,237,291 issued by USPTO on July 3, 2007. Trademark – Trademark Registration No.: 77035529

Federal Government is Stable “Employer” Opportunity to realize profits; consistent work; growth of products; assured payment; assistance in building and modifying business strategies for Government and private markets.

Conclusion

With the passing of Hank Redford in late November, 2018, IIP’s hope is to carry on his legacy by

successfully building upon his dream to….

…help his fellow man.


January, 2019


American, Woman-Owned, Small Business

Established in 2013, Innovative Industrial Products, LLC (IIP) is an American, woman-owned, small

business and Exclusive Technology Licensee of the patented and trademarked PENTA

BUSTER™/HEXA BUSTER®™ debris-removal wrench.

Under the Women-Owned Small Business Federal Contracting Program, the Federal Government’s

goal to award at least five percent (5%) of all Federal contracting dollars to women-owned small

businesses each year affords Innovative Industrial Products, LLC, a sizable advantage in receiving

work from the Government.

Current Activities

Currently, the PENTA BUSTER® for (five-sided bolts) and the HEXA BUSTER® (for six-sided bolts)

one-step debris-bolt-removal process tools are being sold exclusively to the U.S. electric utility industry

by eight of the most qualified electric utility distributors in the country.

Future Plans/New Markets

Responding to requests from the military to look at the Federal Government’s Road Vehicles’ (land

vehicles’ lug nuts and continuous track vehicles [military tanks and heavy equipment] wheels’ bolts),

IIP has now decided, in its study of the marketplace for both markets, to expand its scope to include

not only the Road Vehicles Program, but to incorporate the U. S. Government’s multitude of uses in

its Utility Systems operation.

In conclusion, IIP is now opening up its tools’ markets to include the U.S. Government—and look

forward to the inclusion of this unique, indispensable—dependable—tool in the Federal Government’s

vast array of tool kits.

COMPANY OVERVIEW/CURRENT ACTIVITIES/FUTURE PLANS


January, 2019


THE PRODUCT PENTA BUSTER™/HEXA BUSTER™– The Answer to a Market Need The PENTA BUSTER® (for five-sided fasteners) and HEXA BUSTER® (for six-sided fasteners)

wrenches are designed specifically to protract the tools’ “teeth” from within the tools’ cylindrical casing

and grind away at the debris around all types of fasteners (bolts, screws, nuts) for access into the

receptacle that is being secured by the fasteners. The teeth are then safely—and effortlessly—

retracted back into the receptacle, so the retracted penta and/or hexa wrenches can remove the

fasteners.

THE PRODUCT, “ISSUES”, USES, CURRENT METHODS

Teeth Recessed Optional T-Handle Teeth Protracted

Larger Ratchet Mechanism


January, 2019


THE “ISSUE”

Debris builds up whenever fasteners (bolts, screws, nuts—any fastening object) that secure certain

types of receptacles are recessed enough to let in external elements (ice, snow, mud, sand, gravel,

and grit).

Access to the fastener can prove troublesome, dangerous, and time consuming if the fastener is

impacted with rubble and debris—and the only tools offered to remove the debris are knives,

screwdrivers, nut drivers—any other unwieldy and risky device that is not designed specifically for

this function.

This “issue”, relative to the Federal Government, is widespread and involves a plethora of U.S.

Government-use opportunities.

Any application that requires the speedy/efficient/safe removal

of debris from around equipment fasteners—

and then the removal of the fastener—in one step—

is appropriate for the following Government uses:

As the tool’s popularity increased, the first tool—the PENTA BUSTER® tool for five-sided fasteners—was “enhanced” to accommodate hexa needs:

PENTA BUSTER® (five-sided bolts) – 3/4" bolts – compatible with 1/2” ratchet;

HEXA BUSTER® (six-sided bolts) – 9/16” bolts – compatible with 3/8” ratchet;

HEXA BUSTER® (six-sided bolts) – 9/16” bolts – compatible with 1/2" ratchet;

PENTA BUSTER® (five-sided bolts) – 3/4" bolts – compatible with 3/8” ratchet.

The Federal Government’s international military

installations’ utility systems (electric power;

natural gas supply; transmission of

telecommunications; treatment or supply of water;

collection or treatment of wastewater; generation

of supply of steam, hot water, and chilled water),

which accommodates more than 350,000 energy-

using buildings and whose massive amount of

electric service boxes—for each use—amass dirt,

mud, sand, water, large chunks of ice—all sorts

and types of environmental debris; and


January, 2019


The United States Army Corps of Engineers’ civil engineering projects

result in extreme amounts of excess external-element build-up in and around

its various and sundry types of equipment. Using an all-in-one debris-

fastener remover will secure the safety of the men and women of the Corps

and reduce downtime and improve efficiency for the U.S. Army as it

coordinates the Corps’ varied activities.

In answer to the question in a “World War II Message Board” relative to how often military tanks throw tracks and how long

it takes to repair, an Army Sargent replied,

“In real i ty , i t is not unusual for reconnect ion to

take up to 6 to 10 hours—when you are cold ,

t i red, working in the dark,

and in a foot of mud.”

The military’s more than 600,000 road

vehicles that accumulate debris in and

around land vehicles’ lug nuts, as well as the

encasement of rubble and muck around its

continuous track vehicles’ wheels’ bolts,

that require a safe and speedy “recovery”—

recovery that is especially crucial in combat

situations.

Similar to the military combat tanks, the U.S.

Government’s heavy equipment (bulldozers, excavators,

tractors) utilize a continuous band of intermittently

recessed tread or track plates and are driven by two or

more wheels. Safety and efficiency demands are also

placed on the Federal Government when these vehicles’

wheels’ fasteners get encrusted with external-element

build-up and create unneeded downtime—and safety

hazards—when inappropriate mechanisms are used to

remove the debris from around the equipment fasteners—

and remove the fasteners.


January, 2019


MULTITUDE OF USES

The tool can be used virtually anywhere in the Federal Government that requires an instrument whose

unique, patented cleaning flange will safely loosen the debris from around a Government vehicle’s lug

nuts, eliminate the mud and debris from the U.S. military continuous track vehicles’ wheels’ bolts, and

remove rubble encasing its utility systems’ service box bolts—for bolt access and removal—with the

same instrument.

CURRENT REMOVAL METHODS After a patent search and market analysis, it appears the

Federal Government does not have a multi-use tool that…

1. at the flick of the wrist, produces “teeth” that gnaw away

at the debris build-up from the U. S. Government’s multitude of

enclosures; then…

2. grinds at the excessive external-element build-up (ice,

snow, mud, soft-earth sand, gravel and grit) around the

enclosures; then…

3. at the flick of the wrist, retracts the “teeth”

and produces a penta or hexa wrench to

remove the bolts sealing the enclosures—all in

one fast and faithful step.

The PENTA BUSTER™/HEXA BUSTER™ patented tool

offers a T-handle option for smaller uses and, once removed,

converts to a tool that can accommodate larger lug nut

wrenches, socket lug wrenches—or other tools that are used

to remove fasteners.

Design “enhancements” to the tool will most likely be needed,

given the Government’s larger-sized tools and fasteners.


January, 2019


Additionally, during the competition examination, IIP found a ¼-inch hex shank hole-making device

that contains protracted teeth, as well as a somewhat similar carbide hole cutter manufactured by

another company. However, as they appear to be used exclusively for creating holes—and the teeth

do not retract into a receptacle for safe storage—IIP has concluded it does not infringe on the current

PENTA BUSTER™/HEXA BUSTER™ patent. There are a multitude of screwdrivers, socket wrenches, pocket knives, and nut drivers in the

marketplace; however, there are no wrenches or drivers that are specifically designed to bear down

(with “teeth”) to remove debris—and retract back into its cylindrical core—for safe expulsion of the

penta and hexa nuts and bolts by the tools’ hexa or penta wrench.

Additionally, during the search, it was found that other possible competitive products are not made of

the highest-grade stainless steel to resist corrosion; provide heat, cold, and chemical damage support;

and supply enhanced strength.

Are pocket knives, chisels, screw drivers,

lug wrenches, and other miscel laneous

hand tools , the safest and most e ffect ive

means to loosen—and remove in one step—

the debris-encrusted fasteners that ex ist in

a mult i tude of Federa l uses?


January, 2019


TOTAL PENTA BUSTER/HEXA BUSTER™ U.S. GOVERNMENT MARKET SIZE

600,000 Government Vehicles

350,000 Energy-Using Building and Structures

U . S . G O V E R N M E N T N E E D S U.S. FEDERAL GOVERNMENT ROAD VEHICLES – The Federal Government has more than

600,000 road and off-road vehicles within its purview.

Currently Active United States Military Land Vehicles broken down into type and number of U.S.

Government Military Land Vehicles.4

CURRENTLY ACTIVE UNITED STATES

MILITARY LAND VEHICLES

RECAP

TYPE OF U.S. GOVERNMENT


NUMBER OF U.S. GOVERNMENT


Main Battle Military 5,848

Infantry Fighting Vehicles 6,724

Armored Personnel Carriers 11,335

Armored Combat Support Vehicles 530

Mine-Protected Vehicles 25,735

Light-Armored Vehicles 261,836

Self-Propelled Artillery 2,341

Anti-Aircraft 1,024

Prime Movers and Trucks 132,500

Unmanned Combat and Miscellaneous Vehicles 152,127

TOTAL: 600,000

U.S. ARMY CORPS OF ENGINEERS – Over 35,000 employees make the Corps one of the

world’s largest public engineering, design, and construction management agencies. With its main missions of planning, designing, building, and operating locks and dams, as well as other civil engineering projects, such as flood control, beach nourishment, dredging for waterway

4 Bradley Fighting Vehicle Systems Archived 2013-05-13 at the Wayback Machine. – Olive-Drab.com

"Archived copy". Archived from the original on 2015-10-01. Retrieved 2015-09-30.

M113 Variants Archived 2015-04-09 at the Wayback Machine. – Fas.org

M113 Family of Vehicles Archived 2007-09-13 at the Wayback Machine. – Army.mil

LAV-25 Archived 2013-06-14 at the Wayback Machine. – MarineCorpstimes

HMMWV Archived 2015-05-05 at the Wayback Machine. – 2013 Army Weapon Systems Handbook

Humvee Spec Sheets Archived 2012-10-21 at the Wayback Machine. – AM General

New National Guard ambulance unveiled Archived 2014-02-01 at the Wayback Machine. – Military1.com, 30 January 2014

United States air rescue teams ordered HDT Storm SRTVArchived 2013-02-05 at the Wayback Machine. – Armyrecognition.com, February 3, 2013

"Archived copy" (PDF). Archived from the original (PDF)on 2013-02-15. Retrieved 2013-05-15.

US Army Works Toward Single Ground Robot - Defensenews.com, 15 November 2014

MARKET

http://olive-drab.com/idphoto/id_photos_bradley_bfvs.php

https://web.archive.org/web/20130513020616/http:/olive-drab.com/idphoto/id_photos_bradley_bfvs.php

https://en.wikipedia.org/wiki/Wayback_Machine

https://www.bloomberg.com/news/articles/2012-11-19/iraq-seeks-up-to-30-general-dynamics-stryker-vehicles

https://web.archive.org/web/20151001195518/http:/www.bloomberg.com/news/articles/2012-11-19/iraq-seeks-up-to-30-general-dynamics-stryker-vehicles

https://fas.org/man/dod-101/sys/land/m113.htm

https://web.archive.org/web/20150409020009/https:/fas.org/man/dod-101/sys/land/m113.htm


http://www.army.mil/factfiles/equipment/tracked/m113.html

https://web.archive.org/web/20070913052717/http:/www.army.mil/factfiles/equipment/tracked/m113.html


http://www.marinecorpstimes.com/news/2009/05/marine_lavs_051109w/

https://web.archive.org/web/20130614074740/http:/www.marinecorpstimes.com/news/2009/05/marine_lavs_051109w/


https://fas.org/man/dod-101/sys/land/wsh2013/142.pdf

https://web.archive.org/web/20150505151230/http:/fas.org/man/dod-101/sys/land/wsh2013/142.pdf


http://www.amgeneral.com/vehicles/hmmwv/specs.php

https://web.archive.org/web/20121021154906/http:/amgeneral.com/vehicles/hmmwv/specs.php


http://www.military1.com/army/article/459422-new-national-guard-ambulance-unveiled

https://web.archive.org/web/20140201200340/http:/www.military1.com/army/article/459422-new-national-guard-ambulance-unveiled


http://www.armyrecognition.com/february_2013_army_military_defense_industry_news/united_states_air_rescue_teams_ordered_hdt_storm_srtv_search_and_rescue_tactical_vehicle_0302134.html

http://www.armyrecognition.com/february_2013_army_military_defense_industry_news/united_states_air_rescue_teams_ordered_hdt_storm_srtv_search_and_rescue_tactical_vehicle_0302134.html


https://web.archive.org/web/20130215085332/http:/www.rsjpo.army.mil/images/UGS_Roadmap_Addendum_Jul12.pdf

http://www.rsjpo.army.mil/images/UGS_Roadmap_Addendum_Jul12.pdf

http://www.defensenews.com/article/20141115/DEFREG02/311150033/US-Army-Works-Toward-Single-Ground-Robot?odyssey=mod_sectionstories


January, 2019


navigation, ecosystem restoration, and environmental regulation, the Corps is involved in a multitude of activities that result in excess external-element build-up in and around its equipment. How does this Agency safely remove debris-ridden fasteners from its equipment? Whatever means they currently use, there is no other tool like the PENTA BUSTER/HEXA BUSTER one-step debris-bolt-removal apparatus, whose design is patented to specifically remove the debris, access the fastener, and remove it--in one safe, efficient step.

U.S. MILITARY UTILITY SYSTEM – Over 350,000 Energy-Using Buildings and a Vigorous

Utility System to accommodate the Need

Federal Government International Military Installations – Robust Dollars Invested for Power

With more than 350,000 energy-using buildings and structures, the Federal Government is the

nation’s largest energy consumer and spends billions of dollars each year to power its permanent

military posts around the world.5 With this comes a massive utility system.

In this context, utility systems include systems:

(1) for the generation and supply of electric power;

(2) for the supply of natural gas;

(3) for the transmission of telecommunications;

(4) for the treatment or supply of water;

(5) for the collection or treatment of wastewater; and

(6) for the generation or supply of steam, hot water, and chilled water.

Department of Defense Largest Energy User in World – Sustains Immense Electrical Power

Needs

Department of Defense – The U.S. Department of Defense (DoD), alone, is the largest consumer of

energy in the world6.

KEEP THE COUNTRY’S FEDERAL UTILITY SYSTEM’S EMPLOYEES SAFE—AND EXPENDITURES DOWN

The opportunity for the Federal Government to create a uniform process to protect its utility system

workers from bodily harm cannot be understated. Utilizing the patented/trademarked PENTA/HEXA

BUSTER® tool to alleviate injuries—and address downtime issues when utility system boxes cannot

be quickly penetrated because of crusted-on debris—will keep America’s Federal Utility System

employees secure—and save the taxpayer money.

5 https://www.energy.gov/eere/efficiency/government-energy-management 6 Warner, J., & Singer, P. (2009). Fueling the “Balance”: A Defense Energy Strategy Primer. Washington, D.C.; Brookings

Institution available at: http://www.brookings.edu/media/research/files/papers/2009/8/defense%20strategy%20singer/8 defense strategy singer.pdf.

http://www.brookings.edu/media/research/files/papers/2009/8/defense%20strategy%20singer/8%20defense%20strategy%20singer.pdf

http://www.brookings.edu/media/research/files/papers/2009/8/defense%20strategy%20singer/8%20defense%20strategy%20singer.pdf


January, 2019


The PENTA BUSTER/HEXA BUSTER® products have heretofore been sold exclusively to the U.S.

electric utilities market; this expertise can now be used to protect the Federal Government's electric

utilities personnel, as well as the entire Federal Government’s utility system.

Additionally, with on-base utility systems now being privatized, whereby the systems are “sold” to

private or public entities—companies with whom Innovative Industrial Products is currently working

may very likely be entities already selling the PENTA/HEXA BUSTER® tool.


January, 2019


The protection of intellectual property (IP) rights is essential to maintaining economic growth in the

U.S. and abroad, since IP rights give statutory expression to the moral and economic rights of creators

in their creations and the rights of the public in access to those creations. These rights also promote,

as a deliberate act of U.S. Government policy, creativity, and the dissemination and application of its

results and to encourage fair trading which would contribute to economic and social development.”7

Reasons for Patenting Inventions

Exclusive rights - Patents provide the exclusive rights which usually allow small and medium-

sized entities (SMEs), such as Innovative Industrial Products, LLC (IIP), Exclusive Licensee of the

PENTA BUSTER/HEXA BUSTER® tools, to use and exploit the invention for twenty years from

the date of filing of the patent application.

Strong market position - Through these exclusive rights, IIP is able to prevent others from

commercially using the patented invention, thereby reducing competition and establishing the

invention in the market as the pre-eminent player.

Higher returns on investments - Having invested a considerable amount of money and time in

developing innovative products, the IIP SME could, under the umbrella of these exclusive rights,

commercialize the invention enabling the IIP SME to obtain higher returns on investments.

Opportunity to license or sell the invention – The patent may also be sold or sub-license the

rights to commercialize it to another enterprise.

Increase in negotiating power – The patent portfolio enhances bargaining power. Simply put,

the patent may prove to be of considerable interest to the enterprise with whom negotiations are

ensuing, and the opportunity to enter into a cross-licensing arrangement, where the patent rights

could be exchanged between IIP and another enterprise.

Positive image for enterprise - Business partners, investors, and shareholders may perceive

patent portfolios as a demonstration of the high level of expertise, specialization, and

technological capacity within a company. This may prove useful for raising funds, finding business

partners, and raising the Company’s market value.

As addressed above, Innovative Industrial Products, LLC, is the Exclusive Licensee of the PENTA

BUSTER and HEXA BUSTER multi-purpose tools for cleaning debris clogging nut wells and driving

the nuts—and is protected by one patent and one trademark registration:

U.S. Patent #7,237,291 (“Combined Nut Recess Cleaner and Nut Driver Tool”), issued on July

3, 2007.

Trademark Registration Serial Number: 77035529

7 http://www.wipo.int/export/sites/www/about-ip/en/iprm/pdf/ch1.pdf.p.3.

INTELLECTUAL PROPERTY

http://www.wipo.int/export/sites/www/about-ip/en/iprm/pdf/ch1.pdf.p.3


January, 2019


A patent search and market study do not indicate the subject process is being utilized by the Federal

Government at the present time.

As previously stated, there now exists two hole-cutting devices that bear “teeth:

a bi-metal hole-saw device that contains extended teeth-like projections with an ejection spring

that removes slugs by automatically ejecting the material; and

a carbide-tooth bore-cutter with a split-point pilot bit.

Since these tools appear to be sold exclusively for cutting holes, it does not appear to infringe upon

the PENTA BUSTER™/HEXA BUSTER™ tools’ Patent. The only infraction that could possibly occur

is if IIP chose to exercise its rights under its Patent’s “Preferred Embodiments”, which states,

“…there is no intent ion to l imi t the invent ion to the speci f ic form dis closed,

but on the contrary, the invention is to cover al l

modif icat ions, a l ternative constructions, and equivalents

fa l l ing wi thin the spi r i t and scope of the invention.”

Since the “spirit and scope” of the PENTA BUSTER™/HEXA BUSTER™ invention” is to remove

debris and not drill holes, IIP does not intend to pursue this route.

Additionally, other possible competitive products are not made of the highest-grade stainless steel to

resist corrosion; provide heat, cold, and chemical damage support; and supply enhanced strength.

The product’s quality can be substantiated by its record: There have been no returns of the product

since its inception in 2013.

Lastly, there is no dual-use product in the marketplace where there is an encasement in which the

“teeth” reside to protect personnel from being scraped or otherwise injured and surround a penta or

hexa wrench for fastener removal.

In conclusion, Innovative Industrial Products, LLC’s PENTA/HEXA BUSTER® product is unique—and

protected—from its competition, offering highly sought-after market strength.

COMPETITION


January, 2019


TYPES OF GO-TO-MARKET STRATEGIES

The Innovative Industrial Products, LLC (IIP) Team has reflected on several mechanisms for

manufacturing, introducing, marketing, and selling the tools into the Federal Government market,

including:

Manufacturing and selling directly into the marketplace;

Licensing the innovation;

Acquiring a company;

Forming a strategic alliance;

Joint venture partnering;

Selling the technology outright to a competitor.

LICENSING THE TECHNOLOGY

During its go-to-market deliberation and strategy for how to most expeditiously and effectively sell to

the U.S. Government, the Team, after 17 years of licensing and sub-licensing coordination and

experience with a multitude of inventors and patent holders, knew that the return on investment tended

to be higher when a company has a high degree of control over its intellectual property rights. Since

IIP solidly retains exclusive IP rights for the “Combined Nut Recess Cleaner and Nut Driver”

PENTA/HEXA BUSTER®, the Company speculates it will have a more enhanced opportunity to

leverage its assets if it chooses a sub-licensing strategy.

IIP LICENSING STRATEGY

1. Determine the fit of the licensing strategy within the overall strategic direction of the

two Parties. Ensuring a clear mutual “fit” within the two Parties’ overall strategies will

safeguard the product’s ultimate success in the marketplace.

2. Evaluate multiple license options. Multiple options (exclusive; non-exclusive; partial

exclusive, partial non-exclusive, etc.) give more “room to breathe”, as the negotiations ensue

and continue to a final, mutual agreement.

3. Size the opportunities. Determining the size of the licensing opportunity is just as important

as determining the size of the market for a business plan. By understanding the market

dynamic and the size of the opportunity, the appropriate resources can be applied not only to

manufacture, market, and sell the product, but also to creatively explore multiple licensing

options—and maximize value capture.

4. Empathetically jointly understanding Partners. Multiple internal term sheets should be

developed as the licensing process begins. These should include term sheets developed not

only from the licensor’s lens, but also from the lens of the licensee. This will ensure that both

Parties to the Agreement can predict and plan to mitigate any major objections—before they

occur.

GO-T0-MARKET STRATEGY


January, 2019


IMPORTANCE OF BUSINESS AND WORK ETHIC

Innovative Industrial Products, LLC, observes sound business ethics and adheres to an aggressive

work ethic and follows those principles that incorporate the characteristics and values that are

associated with ethical behavior.

The IIP Management Team consists of two people who were both taught at an early age that hard

work reaps high rewards. They know that those who possess this trait are better employees who get

the job done—no matter what. After more than 95 years, of experience, combined, commencing in

lower-level, starting positions; then, moving up to lower- and upper-management positions in their

respective careers, the IIP Management Team knows, firsthand, there are specific factors that

demonstrate a strong work ethic:

Always Professional – The IIP Team recognizes that a true professional is dressed professionally,

arrives on time, is courteous to other employees, and understands his or her job and is prepared to

do it. Work ethics ultimately set the tone to develop the future appropriate habits needed for

management positions.

High Productivity – Over the years, during its time in management positions, IIP’s Management Team

has seen that “engaged” employees, with strong work ethics, are more productive and more likely to

become advocates for the Company’s brand. Improving employees’ engagement has shown to better

align its workforce to the Company’s mission and values—and drives employee loyalty, which

ultimately positively impacts the ROI and bottom line.

Teamwork and Cooperation – Knowing that part of having a strong work ethic is understanding that

one is part of a bigger team and that everyone has a role, the IIP Management Team fosters teamwork

and cooperation to ensure that everyone is getting the right information to properly do their respective

jobs.

Determined to Succeed – IIP’s Management Team looks for associates to whom “no” is an

interesting perspective—and that internal motivation to succeed is inherent in their personalities and

workplace activities.

Consistent and High-Quality Work – IIP’s team of associates all have a determination to succeed

and a high standard of professionalism, resulting in work exceptionally well done and proficient.

IIP looks forward to working with a U.S. manufacturer that adheres to the same strong business and

work ethic.


January, 2019


GO-TO-MARKET STRATEGY

Innovative Industrial Products, LLC, has begun the process of identifying a handful of manufacturers

that would appropriately synchronize IIP’s efforts, goals, and forward-looking objectives with that of

the manufacturers.

The IIP formal Go-to-Market Strategy is as follows (in order of occurrence):

1. Send Market Spot Report and IIP Product Spec Sheet to U.S. manufacturers who currently

work with the Federal Government;

2. Call/meet with manufacturers to discuss opportunity;

3. Solicit Request for Qualifications (RFQs);

4. Solicit Request for Proposals to short-listed companies;

5. Solicit Term Sheets;

6. Commence negotiations via Term Sheets;

7. Further short-list of manufacturers who have met all IIP criteria and requirements;

8. Select candidate who will reflect the quality of the IIP product; IIP’s reputation; business and

work ethic; how well the supply chain supports the candidate’s business model—and the

bottom line.

After IIP has processed the above information/steps, IIP will source a manufacturer and begin

production.

A copy of the First-List Manufacturers’ Chart is attached hereto as “Attachment I”.


January, 2019


ANSWER TO A NEED AND A PROBLEM

In Plato’s Republic, he discussed the origin of the State and nature of justice and injustice as they

appear in the ideal “State”…

“A State arises, as I conceive, out of the needs of mankind. Let us begin and create in ideal State;

And yet the true creator is necessity, who is the mother of our invention.”

Aristocles “Plato” Republic, Book II 369c

360 B.C.

As Plato, Socrates, and Adeimantus knew: the truly greatest achievements emanate from a need

and/or problem that encourages creative efforts in order to meet the need—and solve the problem.

Electrical contractor, Hank Redford, had a need—and a problem. The need was to service his

customers in a timely—and safe—manner. The problem was the penta nuts that fastened the top of

the ground-level electrical service boxes he was attempting to open were encased with debris (dirt,

mud, sand, water, large chunks of ice) and difficult to clear and remove. The hammers, chisels,

screwdrivers, and other utensils he used to remove the debris continued to take more time than

necessary—and had a tendency to slip and cause him bodily harm. A serious injury gave Hank the

impetus to look at a means to seamlessly—and safely—access the electrical service boxes. Thus, the

birth of the PENTA BUSTER® one-step debris-bolt-removal process.

Hank protected this elegant tool with a Patent, registered its mark with the United States Patent and

Trademark Office, and licensed it to Innovative Industrial Products, LLC, an American, woman-owned

small business that has been selling into the electric service market since the ink dried on the Exclusive

License Agreement in 2013.

Recommendations from military contacts to look at the U.S. Government’s Road Vehicles market, with

IIP opening up the opportunity to include the U. S. Army Corps of Engineers, and U.S. Government’s

Utilities Systems, have incentivized The IIP Management Team to take an additional path and look

carefully at helping the Federal Government with possible needs and problems similar to Hank’s

efficiency and safety issues.

ADVANTAGES TO TEAMING WITH FEDERAL GOVERNMENT

With roughly $500 billion spent annually at the Federal level on goods and services, the “space” for all

types of businesses in 2018 produced a profitable year from government contracts.8 Currently, over

five million contractors have obtained U.S. Government contracts.

Building a strong contractual relationship with the Federal Government renders unique benefits:

8 https://www.federaltimes.com/opinions/2018/03/13/3-considerations-for-government-contracting-in-2018/

CONCLUSION


January, 2019


Profits – Fifty percent of government contractors have reported that their profitability rose as a

result of Federal contracting.9

Consistent Work – Focusing on the marketing of the PENTA/HEXA BUSTER® tools could provide

consistent workable assignments and assist with the growth of the products.

Assured Payment – Although payment may take up to thirty (30) days, it is still assured.

Business Strategy – Having a U.S. Government contract help to build and modify the business

strategy for the Federal and commercial sector.

ADVANTAGES TO TEAMING WITH IIP

Woman-Owned, Small Business Set-Asides – Approved in late 2017, updates to the National Defense

Authorization Act (NDAA) impacted government contractors directly as changes concerning set-asides

were meant to encourage the Federal Government to diversify its contracts. Among the changes, the

NDAA now requires agencies to establish small business government subcontracting goals to

encourage greater opportunities for woman-owned small businesses to win and perform on contracts.

“While this is obviously good news for small contracts,

it also provides big opportunities for large primes

to team up with small companies on projects—

potentially opening up doors that might otherwise not be open for them.”10

Innovative Industrial Products, LLC is in the throes of becoming certified with the U.S. Government’s

Small Business Association (SBA) under SBA (8) for its Woman-Owned, Small Business status.

Patented and Trademarked – Patenting inventions protects inventors’ products and establishes the

invention in the market as the pre-eminent player. With that comes higher returns on investments and

increases in negotiating power, as well as a demonstration of the high level of expertise, specialization,

and technological capacity within a company and demonstrated by the product in the marketplace.

Unique Product Base – The PENTA/HEXA BUSTER® tools have no competition. Therefore, for twenty

years from the date of the patent issuance on July 3, 2007, exclusive rights will allow the use of the

invention—with no outside competitors to obstruct the Patent Holder’s rights.

Product Expansion Opportunity – This will be an opportunity for the manufacturer to revisit existing

clients with a new, unique product—and an opening to pursue new customers.

Two Tools for the Price of One, Coupled with Volume Sales will Ameliorate Cost to Manufacture –

Because of its dual use, the PENTA/HEXA BUSTER® tools incorporate an intricate design. With this,

comes higher manufacturing costs. To address this issue, the PENTA/HEXA BUSTER® tools are actually

9 www.womenable.com/content/...trendsincontractingreport-public.pdf 10 https://www.federaltimes.com/opinions/2018/03/13/3-considerations-for-government-contracting-in-2018/


January, 2019


two tools in one: one to remove the debris, and one to remove the bolt, bringing the ultimate cost to

manufacture—and resultant MSRP—in line with the cost of two tools to perform the activity.

Additionally, because of the volumes of sales that can be realized with the two U.S. Government

markets being pursued, capacity manufacturing will also diminish the final cost.

CONCLUSION

In closing, as previously mentioned, Hank passed away in late November, 2018, before The Team

had had a chance to fully engage in the new direction with the Federal Government, which is the

subject of this Market Spot Report. The hope is that Hank’s partner and lovely wife, Gwen, may be

able to reap some of the monetary and “helping-hand” benefits Hank foresaw that resided in the

dynamic U. S Government market.


January, 2019


POTENTIAL MANUFACTURERS

MANUFACTURER

LEADERSHIP

PERFORMANCE

Actuant Corporation

Randy Baker, President/CEO N86 W12500 Westbrook Crossing Menomonee Falls, WI 53051 262.293.1500 (o)

Revenue: US$1.45B Employees: 6,000 Products:

Industrial Tools & Services – design, manufacture, and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure, and production automation markets.

Engineered Components & Systems – provides engineered position and motion control systems to OEMs in various vehicle markets, as well as a variety of other industrial products.

Additional Information:

In 1988, Applied Power (name later changed to “Actuant”) acquires Gardner Bender from Gardner family

01.28.19 – Market Spot Report sent to Mr. Baker.

American Saw and Manufacturing Company

Revenue: No information. Employees: No information. Products: saws, saw blades, utility knives, snips, and other cutting tools Additional Information:

In 2017, LENOX joined the Stanley Black & Decker portfolio.

America Saw & Manufacturing Company is a subsidiary of Lenox Industrial Tools.

American hand tool manufacturer, who sells under the Lenox Industrial Tools brand name with which it is synonymous.

01.28.19 – Market Spot Report sent to James M. Loree, CEO, Stanley Black & Decker.

Apex Tool Group, LLC James J. Roberts, CEO 910 Ridgebrook Road Suite #200 Sparks Glencore, MD 21152-9389 410.773.7800

Type of Company: private company, joint venture of Cooper Industries and Danaher Corporation Additional Information: Apex Tool Group, LLC, owns Xcelite

Husky’s hand tools are manufactured for Home Depot by Stanley Black & Decker, Western Forge, Apex Tool Group, and Iron Bridge Tools.

01.28.19 – Market Spot Report sent to Mr. Roberts, CEO.

Blackhawk Tools Products: hand tools Additional Information:

In 1986, Stanley Works acquired National Hand Tool, and with it, the Blackhawk brand.

01.28.19 – Market Spot Report sent to Mr. James M. Loree, CEO, Stanley Black & Decker.

Bobcat, a Doosan Company Bobcat is a Doosan Company.

Danaher Corporation

Thomas P Joyce, Jr., President/CEO William H. King, IV, Sr. V.P., Strategic Development 2200 Pennsylvania Ave., NW Suite 800W Washington, D.C. 20037 202.828.0850 (o) 202.828.0860 (f)

Revenue: US$18.33B Employees: 67,000 Products: Concentrated in the fields of design, manufacturing, and marketing of industrial, healthcare, and consumer products. Company operates in four segments: environmental and applied solutions, life sciences, diagnostics, and dental. Additional Information:

ATTACHMENT I IIP FEDERAL GOVERNMENT OPPORTUNITIES

POTENTIAL MANUFACTURERS

https://en.wikipedia.org/wiki/Stanley_Works

https://en.wikipedia.org/wiki/Western_Forge

https://en.wikipedia.org/wiki/Apex_Tool_Group



January, 2019


In 1990, Easco Hand Tools was acquired by Danaher Corporation, making this acquisition the tools division largest part of Danaher.

In 2003, the Danaher Corporation began producing the majority of Kobalt Hand tools.

01.28.19 – Market Spot Report sent to Mr. Joyce & Mr. King. 02.05.19 – Greg Willoughby, Mr. King’s Assistant: “Sold tool business to Apex Tool, based in Sparks, MD.”

DeWalt Industrial Power Tools, Inc.

James M. Loree, CEO Donald Allan, Jr., CFO Jeffery D. Ansell, COO 701 East Joppa Road Baltimore, MD 21286 410.716.3900 (o) 410.716.7966 (f)

Estimated Annual Revenue: $500M Estimated Employees: 587 Products: industrial machinery & equipment and provider of power tools and hand tools for the construction, manufacturing, and woodworking industries. Additional Information:

Milwaukee Tool is one of DeWalt’s main competitors.

DeWalt Industrial Power Tools, Ind. is Private Subsidiary of Stanley Black & Decker

01.28.19 – Market Spot Report sent to Mr. Loree (Stanley Black & Decker).

Doosan Infracore Construction Equipment a/k/a Doosan Bobcat

Scott Park, CEO 250 East Beaton Drive West Fargo, ND 58078-6000 701.241.8700

Revenue: No information. Employees: No information. Products: manufacture and sell wide range of construction equipment, including hand tools, power, and water solutions, engines, and engineering.

Easco Hand Tools Thomas P Joyce, Jr., President/CEO William H. King, IV, Sr

Revenue: Employees: Products: hand tools Additional Information:

In 1990, the hand tool company was acquired by Danaher Corporation, making this acquisition the tools division largest part of Danaher.

In 1991, Sears selected Danaher to be the exclusive supplier of Craftsman mechanic’s tools.

01.28.19 – Market Spot Report sent to Thomas P Joyce, Jr., President/CEO; and William H. King, IV, Sr. V.P. of Strategic Development, Danahar Corporation.

Emerson Electric Co.

David N. Farr, Chairman/CEO 8000 West Florissant Avenue St. Louis, MO 63136 P. O. Box 4100 St. Louis, MO 63136 314.553.2000

2017 Revenue: US$15.26 billion Employees: 76,500 Products: process control systems, climate technologies, power technologies, industrial automation, electric motors, storage systems, network power, professional tools Additional Information:

In July, 2018, Emerson completed the purchase of Textron Tools and Test Businesses (including Greenlee, Klauke, HD Electric, and Sherman + Reilly)

01.28.19 – Market Spot Report sent to Mr. Farr.

Fortive Corporation James (“Jim”) A. Lico, President/CEO Mr. Pat Byrne, Sr. V.P. Ms. Barbara Hult, Sr. V.P. Raj Ratnakar, V.P./Strategic Development 6920 Seaway Boulevard Everett, WA 98203 425.446.5000

2017 Net Earnings: US$1,045M Employees: 24,000 global employees Fortive Corporation took over government agencies and Tool Division of Danaher in 2016. 02.15.19 – Market Spot Report sent to Mr. Lico, , Mr. Byrne, Ms. Hult, and Mr. Ratnakar

Gardner Bender

David Scheer, CEO/Power Product Mike Masino, Division President N85w12545 Westbrook Crossing Menomonee Falls, WI 53051 262.293.0600

Revenue: No information. Employees: No information. Products: manufactures electrical tools, voltage testers, wire management products, and other professional equipment Additional Information:

Owns Sperry® Instruments and Cal-Term® to include nearly 3000 products and 11 distinct product lines that install, connect, fasten, test, and trouble-shoot electrical wire and circuits. From large wire pulling equipment and hydraulic powered conduit benders to


January, 2019


wire connectors, heat shrink, cable ties, hand tools and instruments, Gardner Bender provides a complete solution for electrical installation and maintenance projects large and small.

In 1988, Applied Power acquired Gardner Bender form the Gardner family.

In 2001, Applied Power changed its name to Actuant.

Husky Tools

Grenville E. G. Sutcliff, Founder/President Brad Baker, Executive V.P. 5335 North 57th Lincoln, NE 68507, NE 402.467.6220

Revenue: Employees: Products: hand tools, pneumatic tools, and tool storage Additional Information:

Owned by The Home Depot.



Ideal Industries

1375 Park Avenue Sycamore, IL 60178 815. 895.5181

Revenue: privately owned; no data Employees: privately owned; no data Products: connectors, hand tools, testers, and meters for the electrical and telecommunications industries Additional Information:

Owns Western Forge and Pratt-Read, the largest and second-largest American made producers of screws.

Illinois Tool Works

E. Scott Santi, CEO 155 North Harlem Avenue Glenview, IL 60025 224.661.8870

2016 Revenue: US$13.6B Employees: 50,000 Products: engineered fasteners and components, equipment and consumable systems, and specialty product. Additional Information:

ITW comprises a number of companies and division: Hobart, Miller Electric, DUO-FAST fasteners, Foster Refrigerator, and the Wolf Range Company.

01.28.19 – Market Spot Report sent to Mr. Santi.

Irwin Industrial Tools

William A. Burke, III, President Curt Weber, V.P./Marketing 9815 Northcross Center Court Huntersville, NC 28078 704.987.4555

Revenue: No information. Employees: No information. Products: hand tools and power tool accessories; best known for producing Vise-Grip locking pliers. Additionally, it produces clamps, drill bits, taps and dies, screw extractors, bolt extractors, saw blades, pipe wrenches, screwdrivers, snips, and other construction tools. Additional Information:

Irwin Industrial Tools is a subsidiary of Newell Rubbermaid and owned by Stanley Black & Decker.


Klein Tools, Inc.

Thomas R. Klein, Sr., COB Mark Klein, Co-President Thomas Klein, Jr., Co-President P. O. Box 1418 Lincolnshire, IL 60069-1418 847.821.5500

Revenue: privately owned (by Klein family) Employees: Products: 3,800 different tools, including 165 different types of pliers and hand tools Industries: electrical and telecommunications Additional Information:

Lineman’s pliers are often called “Kleins” 01.28.19 – Market Spot Report sent to Mr. Thomas R. Klein, Sr.; Mr. Mark Klein, Co-President; and Mr. Thomas Klein, Jr., Co-President.

Kobalt Tools

Guy Pepper, CEO George Krieger, President Vertume DufauIt, Chief Technology Officer 1000 Lowe’s Boulevard Mooresville, NC 28117 704.758.1000 (o) 704.757.0611 (f)

Revenue: No Information. Employees: No Information. Products: hand and mechanics’ tools (power tools, tools storage) Additional Information:

Owned by Lowe’s Companies, Inc.

Lenox Industrial Tools, a Division of Irwin Industrial Tool Co.

301 Chestnut Street East Longmeadow, MA 01028 413.525.3961

Revenue: No Information. Employees: No Information. Products: markets industrial saw blades, hand tools, power tool accessories in more than 70 countries.






January, 2019


Additional Information:

In 2017, LENOX joined the Stanley Black & Decker portfolio.

America Saw & Manufacturing Company is a subsidiary of Lenox Industrial Tools.


Lowell Corporation

David S. Cummings, President 65 Hartwell Street, West Boylston, MA 01583 Paul Carnes, Vice President (ext. #132) [email protected] 508.835.2900 1.800.456.9355 Cage Code: 37078

Revenue: US$6.6M Employees: 32 Products: ratchet wrenches and other hand tools used for High Line and Pipeline Utility installation and repair, as well as ratchets as handles and clutches for inclusion in original industrial and commercial equipment, and leading American manufacturer of ratchet technology for civilian industry, military, and utilities. Additional Information: 01.28.19 – Market Spot Report sent to Mr. David S. Cummings, President. 02.15.19 – MSR sent to Mr. Carnes.

Mac Tools

Ken Hartman, President, Mac Tools, North America 505 N. Cleveland Avenue Westerville, OH 43082 1.800.622.8665

Revenue: Net Income: US$39B (worldwide) Employees: 2,300 Products: Additional Information:

Mac Tools manufactured tools are produced in various Stanley Back & Decker facilities across the world

Mac Tools USA hardline tools are manufactured in their partner, Proto Tools, Dallas Plant.

In 1980, Mac Tools was bought by the Stanley Works Company and is now part of a group of brands. including Stanley Tools, Proto, Facom, and Blackhawk, a subsidiary of Proto Tools.

01.28.19 – Market Spot Report sent to Ken Hartman and James M. Loree, CEO, Stanley Black & Decker

Milwaukee Electric Tool Steven P. Richman, CEO 13135 West Lisbon Road Brookfield, WI 53005 262.781.3600 (o) 262.781.3611 (f)

Revenue: $889.3 million Employees: 1,450 *Products: corded and cordless power tools, hand tools, pliers, hand saws, cutters, screwdrivers, trims, knives, and tool combo kits Type of Company: Additional Information: *Hong Kong-based Techtronic Industries Co. acquired Milwaukee Tool in 2005 01.28.19 – Market Spot Report sent to Mr. Steven P. Richman.

Plumb No Information.

No information. Revenue: No information. Employees: No information. Products: hammers and hatchets Additional Information:

In 1971, the Plumb Company was acquired by the Ames Company; in 1981, Plumb was sold to Cooper Industries; and in 2010, the Cooper Hand Tools division was spun off into Apex Tool Group.

01.28.19 – Market Spot Report sent to James J. Roberts, CEO, Apex Tool Group.

Proto Industrial Tools

a/k/a StanleyProto Industrial Tools, Inc. 2195 East View Parkway Suite #103 Conyers, GA 30013 770.648.9108

Revenue: No Information. Employees: No information. Products: industrial hand tools Additional Information:

Stanley Black & Decker acquired Proto Industrial Tools in 1984.

01.28.19 – Market Spot report sent to Mr. James M. Loree, CEO, Stanley Black & Decker

The Ridge Tool Company a/k/a Ridgid Power Tools 400 Clark Street Elyria, OH 44035 440.323.5581

Fred Pond, President Revenue: No information. Employees: No information. Products: plumbing, pipe fitting, construction, HVAC equipment; pipe wrenches + 300 other types of tools. Additional Information:

In 1966, became a wholly owned subsidiary of Emerson Electric.

https://en.wikipedia.org/wiki/Cooper_Industries

https://en.wikipedia.org/wiki/Cooper_Industries



January, 2019


01.28.19 – Market Spot Report sent to Mr. Farr, Chairman/CEO, Emerson Electric.

Snap-On Tools International, LLC Nicholas T. Pinchuk, COB/CEO 2801 80th Street Kenosha, WI 53143-1410 262.656.5288 (o) 262.656.5119 (o)

2016 Revenue: US$3.430 billion 2016 Net Income: $0.546 billion Employees: 1,100 Products: professional automotive and industrial tools and equipment 01.28.19 – Market Spot Report sent to Mr. Pinchuk.

Stanley Black & Decker George W. Buckley, COB James M. Loree, President/CEO 1000 Stanley Drive New Britain, CT 06053 860.225.5111

2017 Revenue: US$12.74 billion 2017 Net Income: US$1.2 billion Employees: 57,765 Industry: Hardware Products: tools, hardware, security, medical equipment Type of Company: public Additional Information:

DeWalt Industrial Power Tools is a private subsidiary of Stanley Black & Decker.

In 2017, Stanley Black & Decker purchased the tools business of Newell Brands, including Lenox Industrial Tools.

In 1986, Stanley Works acquired National Hand Tool, and with it, the Blackhawk brand.

DeWalt Industrial Power Tools, Inc. is Private Subsidiary of Stanley Black & Decker


Irwin Industrial Tools is a subsidiary of Newell Rubbermaid and owned by Stanley Black & Decker.

Mac Tools manufactured tools are produced in various Stanley Back & Decker facilities across the world

Stanley Black & Decker acquired Proto Industrial Tools in 1984.

01.28.19 – Market Spot Report sent to James M. Loree, CEO, Stanley Black & Decker

The L. S. Starrett Company

Douglas A. Starrett, President/CEO The L. S. Starrett Company 121 Crescent Street Athol, MA 01331 978.249.3551 (o) 978.249.8495 (f)

2018 Revenue: US$216.32 million Employees: 1,300 Products: Manufacturers more than 5,000 variations of precision tools, gauges, measuring instruments, and saw blades Additional Information:

L. S. Starrett Company is an American manufacturer of tools and instruments used by machinists and tool and die makers.

01.28.19 – Market Spot Report sent to Mr. Douglas A. Starrett.

Western Forge

Curtis Brown, V.P./Operations 4607 Forge Road Colorado Springs, CO 80907 719.598.5070

Revenue: No information. Employees: No information. Products: hand tools; screwdrivers; socket and ratchet sets (screwdrivers) Additional Information: In 1981, the Company was acquired by Emerson Electric.

Subsidiary of Ideal Industries.

The Company manufactures hand tools to be sold under other brands, including private-label brands, such as Craftsman and Husky

The Company is the largest American manufacturer of screwdrivers.


01.28.19 – Market Spot Report sent to David N. Farr, Chairman/CEO, Emerson Electric.

Wilde Tool Company, Inc. Paul Froeschl, CEO Lucas Froeschl, V. P. Sales 1210 Pottawatomie Street Hiawatha, KS 66434

Revenue: No Information. Employees: No Information. Products: manufactures hand tools for plumbing, automotive, and service professionals (chisels, pliers, pry










January, 2019


785.742.7171 (o) 785.742.3719 (f)

bars, punches, scrapers, screwdrivers, screwdriver service tools, and wrenches). 01.28.19 – Market Spot Report sent to Mr. Paul Froeschl and Mr. Lucas Froeschl.

J. H. Williams Tool Company Revenue: Privately held company – no data. Employees: Privately held company – no data Additional Information:

Owned by Snap-On Tools (See Snap-On Tools, above.)

01.28.19 – Market Spot Report sent to Mr. Pinchuk, COB/CEO, Snap-On Tools.

Wright Tool Company

Terry G. Taylor, CEO/President One Wright Place Barberton, OH 44203 330.848.0600 24680 Mound Rod Warren, MI 48091 248.643.6666 (o) 248.643.6530 (f)

Revenue: Privately held company – no data. Employees: Privately held company – no data. Products: manufacture and distribute a wide range of products, selling to all types of industries—mainly to the U.S. Military, U.S. Government, and automotive industry 01.28.19 – Market Spot Report sent to Mr. Taylor. 02.05.19 – Shirley Harris, Terry Taylor’s Assistant: “The Barberton, OH, Group of Wright tool does not manufacture for the Federal Government; that resides in Warren, MI.”

Xcelite Revenue: Employees: Products: Xcelite is a brand of tools geared toward the electronics service industry and currently markets screwdrivers, nut drivers, pliers, and various specialized tools. Additional Information: Apex Tool Group, LLC, owns Xcelite. (See Apex, above.) 01.28.19 – Market Spot Report sent to James J. Roberts, CEO, Apex Tool.

market spot report for u.s. government opportunities · 2019-03-27 · innovative industrial...

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